YBS Commercial Mortgages has grown its balance sheet to £2.2bn, after completing £453m in lending during 2024.

Yorkshire Building Society’s commercial arm says that £377m of last year’s lending was in the private rental sector and £76m was in commercial property.

YBS Commercial says its growth comes after responding to broker feedback by improving intermediary support.

This included expanding its business development and regional lending teams, as well as giving brokers a named point of contact throughout each client’s application process.

Over the past year, the lender also launched a product for owners of small and medium-sized businesses (SMEs) who occupy their property for commercial reasons, supported by a specialist team of relationship directors.

The lender has also improved its processes by bringing in shortform valuations to estimate market value, as well as pushing ahead with valuations before underwriting approval is received.

Furthermore it is taking a new and more proportionate approach to risk, requiring less information on lower-risk cases to speed up the process.

Angela Norman joined as head of lending and was quickly promoted to interim managing director.

She says: “We’re really proud of what we achieved in 2024 and have made great strides in a number of different areas – from strengthening our teams on the ground to branching out into new markets and helping more borrowers.

“Assisting those who occupy their property for business purposes demonstrates our commitment to purposeful lending and supporting local communities.

“The process-driven improvements we’ve made so far are key to our success, and are a clear focus for 2025 as we set our sights on digital efficiencies, delivering for brokers and customers, and optimising the customer journey even further.”